Turkish millionaires decrease by 26 000 in three months as the country’s economy continues to struggle

MILLIONAIRES IN Turkey by thousands as the country’s economic prospects continue to be bleak.

The  Banking Regulation and Supervision Agency (BDDK) reported that by the end of 2018, the number of millionaires had decreased by 26 000.

The BDDK said over 161 800 Turks have 1 million Lira and over in their bank accounts.

According to BDDK, by the end of September last year, the number of millionaires in Turkey stood at 187 225. However, the number of millionaires in 2017 was 138 980.

Turkish millionaires added 144.3 billion foreign currency, 41.5 billion Turkish Lira and gold valued at 2.6 billion Lira into their accounts, the BDDK’s final report highlighted.

Turkish depositors own the total deposit of 1 trillion, 24 billion, 25 million Turkish Lira. This figure was 1 trillion 194 billion 425 million Lira at the end of September last year and 909 billion 979 million at the end of 2017, according to the regulatory body’s data.

Turkish millionaire depositors’ wealth consists of 465 billion 687 million of Turkish Lira deposits, 552 billion 519 million of foreign exchange deposit accounts and 5 billion 819 million Lira of precious metal deposit accounts.

Switzerland-based Credit Suisse reports that last December the most number of millionaires decrease happened in Brazil with 380 billion dollars and Turkey with 190 Dollar as local currencies weakened against the US Dollar.

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